SuccessionMatching.com

The small business landscape of Canada is rapidly approaching a major turn over. The transition is the result of an increasing number of business owners looking to retire or transition out of their company. Those small businesses are juggling the need to find a suitable buyer with the need to maintain client confidentiality and employee moral. Alternatively, with more businesses on the market place, buyers and new entrepreneurs are seeking businesses that are the ideal fit for their aspirations, skills and vision.According to the Canadian Federation of Independent Business more than 70 per cent of small businesses in Canada are transitioning their business by 2015. Historically a family transaction was the standard for business succession. That is no longer the case. Nearly 50 per cent of companies surveyed by the CFIB are seeking alternative avenues to sell their business or farm. The trend is poised to increase with fewer young people interested in the family business.Once a successor has been identified the transition process can take anywhere from two to 15 years to complete. As a result of the above conditions, both the public and private sector have identified business succession as a major issue. Banks, accounting firms and economic development agencies are aggressively pursuing the opportunity to help their clients’ transition. They provide advise on “asset” or “share” sales, number of years to retire, best practices on corporate knowledge transfer, and key employee contracts. One problem remains. Without knowing who is buying the business it is difficult to accurately discuss a succession plan.SuccessionMatching.com aims to solve that problem and introduce buyers to sellers to help ensure that crucial cornerstone relationship is in place.SuccessionMatching.com is an online platform designed to give business owners the ability to effectively identify qualified buyers; and buyers the ability to reach successful businesses. Once buyers and sellers sign up for a free account and complete their profile, the data they have entered is processed using proprietary compatibility matching algorithms. The five-star rating system enables buyers and sellers to find matches suited to their profile and requirements. Once matches are identified SuccessionMatching.com provides a private and secure venue to share information and communicate, which is valued by sellers. Users control the level of privacy within their profile based upon three levels of control; “public”, “protected”, and “private”. “Two years ago I had a client that was looking to retire and sell their plumbing business. The problem with this industry is when you put up a for sale sign, your suppliers and your customers get nervous. Your suppliers start asking for cash on delivery which screws up your cash flow and your customers do not want to buy a water heater from someone who won’t be around to service the warranty in five years,” says Alison Anderson CEO SuccessionMatching.com.“I looked into options for my client to list their business; online posting boards, brokers, and classified ads, none of these options gave them the privacy they needed to sell their business.” Buyers value the compatibility matching because it means that they are more likely to find a business that suits their particular personality and skill set. If sellers don’t get the privacy they want they run the risk of losing the trust and goodwill of their suppliers and customers. If buyers don’t get the compatibility matching they run the risk of discovering in the due diligence stage that the business wasn’t a good fit. For both sellers and buyers, SuccessionMatching.com can save time, effort and money.SuccessionMatching.com has partnered with a number of different organizations and will be rolling out new partnerships in the succession planning industry. They became a National Research Consul client in late 2012 and SuccessionMatching.com is said to have the ability to disrupt the industry. They are quickly moving across Western Canadian and into international market. Visit SuccessionMatching.com and sign up for free.For more information on these partnerships or assistance with signing up please contact:Elizabeth HeatcoatElizabeth@SuccessionMatching.com.1 888 958 5646

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